V
Velarion™Intelligence
Sign InFree TrialBook a Walkthrough
Banking

Alerus Financial Executive Compensation (FY25)

ALRS · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): May 15, 2026
177 figures on this page: 175 cited to the filing that reported them, 2 calculated from figures it prints. See the citations
Katie Lorenson was paid $1,630,180 in total compensation as President and Chief Executive Officer for fiscal 2025, and Lorenson's total was 21.7% higher than the $1,339,540 reported for fiscal 2024. The disclosed chief executive pay ratio for fiscal 2025 is 21:1, against median employee compensation of $78,830. The say-on-pay proposal drew 96.7% of votes cast for or against in favor at the meeting held May 14, 2026 for fiscal 2025. The disclosed peer group names 1st Source Corporation, Bank First Corporation, Cambridge Bancorp, Cass Information Systems and Community Trust Bancorp, among others.
Chief executive, fiscal 2025
◇
Katie Lorenson
Latest say-on-pay support
=
May 14, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Katie Lorenson: $1,339,540 → $1,630,180 (21.7% higher)
Say-on-pay support: 93.3% → 96.7% (3.4 points higher)
CEO pay ratio: 17:1 → 21:1 (23.5% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Alerus Financial's chief executive and what were they paid?
Katie Lorenson was paid $1,630,180 in total compensation as President and Chief Executive Officer for fiscal 2025. Lorenson's total was 21.7% higher than the $1,339,540 reported for fiscal 2024.
What was Alerus Financial's say-on-pay result?
The say-on-pay proposal drew 96.7% of votes cast for or against in favor at the meeting held May 14, 2026 for fiscal 2025.
Which companies are in Alerus Financial's peer group?
The disclosed peer group names 1st Source Corporation, Bank First Corporation, Cambridge Bancorp, Cass Information Systems and Community Trust Bancorp, among others.
What is Alerus Financial's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 21:1, against median employee compensation of $78,830.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Katie Lorenson
President and Chief Executive Officer
◇—◇—◇—◇◇
Karin Taylor
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Katie Lorenson
President and Chief Executive Officer
◇◇◇—◇—◇◇
Jim Collins
Executive Vice President and Chief Banking and Revenue Officer
◇◇◇—◇—◇◇
Karin Taylor
Executive Vice President and Chief Operating Officer
◇◇◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Katie Lorenson
President and Chief Executive Officer
◇—◇—◇—◇◇
Forrest Wilson
Executive Vice President and Chief Retirement Services Officer
◇◇◇—◇—◇◇
Jim Collins
Executive Vice President and Chief Banking and Revenue Officer
◇—◇—◇—◇◇
Karin Taylor
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Alan Villalon
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Katie Lorenson
President and Chief Executive Officer
◇—◇—◇—◇◇
Jim Collins
Executive Vice President and Chief Banking and Revenue Officer
◇—◇—◇—◇◇
Karin Taylor
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Forrest Wilson
Executive Vice President and Chief Retirement Services Officer
◇—◇—◇—◇◇
Alan Villalon
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Alan A. VillalonRSU◇——◇——◇
Alan A. VillalonPSU◇◇◇—◇—◇
Forrest R. WilsonPSU◇◇◇—◇—◇
Forrest R. WilsonRSU◇——◇——◇
Jim R. CollinsRSU◇——◇——◇
Jim R. CollinsPSU◇◇◇—◇—◇
Karin M. TaylorPSU◇◇◇—◇—◇
Karin M. TaylorRSU◇——◇——◇
Katie A. LorensonPSU◇◇◇—◇—◇
Katie A. LorensonRSU◇——◇——◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Forrest WilsonRSU◇◇——
PSU◇◇——
Alan VillalonRSU◇◇——
PSU◇◇——
Katie LorensonPSU◇◇——
RSU◇◇——
Karin TaylorPSU◇◇——
RSU◇◇——
Jim CollinsRSU◇◇——
PSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Daniel E. Coughlin
Board chair
◇◇————◇
Galen G. Vetter
◇◇————◇
Mary E. Zimmer
◇◇————◇
Janet O. Estep
◇◇————◇
Randy L. Newman
◇◇————◇
Jeffrey W. Bolton
◇◇————◇
John Uribe
◇◇————◇
Nikki L. Sorum
◇◇————◇
Katie A. Lorenson served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • 1st Source Corporation SRCE
  • Bank First Corporation BFC
  • Cambridge Bancorp CATC
  • Cass Information Systems CASS
  • Community Trust Bancorp CTBI
  • Financial Institutions FISI
  • First Business Financial Services, Inc. FBIZ
  • First Mid Bancshares FMBH
  • First Western Financial MYFW
  • German American Bancorp GABC
  • Great Southern Bancorp GSBC
  • Horizon Bancorp HBNC
  • Independent Bank Corporation IBCP
  • Lakeland Financial Corporation LKFN
  • Midland States Bancorp, Inc. MSBI
  • Northpointe Bancshares, Inc. NPB
  • Peoples Bancorp Inc. PEBO
  • QCR Holdings, Inc. QCRH
  • S&T Bancorp, Inc. STBA
  • Stock Yards Bancorp SYBT
  • Univest Financial UVSP
  • Waterstone Financial WSBF
  • Westwood Holdings WHG

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 14, 2026=◇◇◇
2024May 8, 2025=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
Email me this page as a cited PDF
The same figures, the same citations, formatted to hand to a committee. Nothing is added that is not on this page.
Your address is used for this and nothing else. Unsubscribe in one click.
Tell me when Alerus Financial files
You get a note when this company’s compensation data changes.
Your address is used for this and nothing else. Unsubscribe in one click.

What this page does not include

Everything above is a fact Alerus Financial disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Alerus Financial sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
Enquire about access
Multiple companies at once
Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.
Velarion Intelligence
Join the list for a Velarion Pro seat
Full platform access for one person: every industry we cover, peer positioning, and the written analysis. We will email you when it opens.
Your address is used for this and nothing else. Unsubscribe in one click.
Join the list for Peer Group Review
Whether Alerus Financial's disclosed peer group is defensible, who names Alerus Financial back in their own benchmarking group, and how pay tracks performance across it. This is the analysis a compensation consultant delivers on the group above. We will email you when it opens.
Your address is used for this and nothing else. Unsubscribe in one click.

Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
177 figures on this page: 175 cited to the filing that reported them, 2 calculated from figures it prints.
175 cited to the filing
2 calculated from the filing

Documents cited

  1. 0001437749-26-017369
  2. 0001437749-26-010883
    CEO Pay Ratio · DIRECTOR COMPENSATION · Director Compensation · Grants of Plan-Based Awards · and 3 more sections
  3. 0001437749-25-016117
  4. 0001558370-24-003818
    Summary Compensation Table
  5. 0001558370-23-004710
    Summary Compensation Table
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Alerus Financial executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/ALRS (accessed 2026).
Short form: data: Velarion
Embed this data
A small, cited view of this data for your own page or newsletter. Every embed carries a visible link back here, so the attribution travels with it.
The headline figures, each with its citation.
Connect an AI assistant
Ask your own assistant about Alerus Financial and roughly 3,000 other US public companies, and get back the same figures on this page with the same citations. Free read access, no account. Add this to your assistant's connector settings.
Setup guide and the full list of questions it answers

Banking rankings

Chief executive pay — BankingCEO pay ratio — BankingSay-on-pay support — Banking

Peers Alerus Financial discloses

The companies named in ALRS's own disclosed peer group.

1st Source CorporationBank First CorporationCommunity Trust BancorpFinancial InstitutionsFirst Business Financial Services, Inc.First Mid BancsharesFirst Western FinancialGerman American BancorpGreat Southern BancorpHorizon BancorpIndependent Bank CorporationLakeland Financial CorporationMidland States Bancorp, Inc.Northpointe Bancshares, Inc.Peoples Bancorp Inc.QCR Holdings, Inc.S&T Bancorp, Inc.Stock Yards BancorpUnivest FinancialWaterstone Financial

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy